Stable, backed by Tether and Bitfinex, recently announced details of its groundbreaking new Layer-1 Blockchain project, highlighting the tokenomics of its core asset, the STABLE coin. The company declared that the total supply of the STABLE coin is capped at 100 billion, ensuring that it becomes the cornerstone for network security and governance. Designed uniquely for high-volume stablecoin transactions, the project promises significant advancements in the digital currency arena.
Governance, Security, and Consensus Balance
The STABLE coin operates on a delegated proof-of-stake mechanism known as StableBFT. Coin holders are encouraged to delegate their assets to validators, thus contributing to network security and having a say in governance decisions. The team emphasized that the system not only fosters an economic commitment but also strengthens the network’s sustainability and decentralization.
Interestingly, the Stable team clarified that the STABLE coin is not intended for use as a payment method. Instead, all transactions will be conducted via USDT, currently the world’s largest stablecoin. This design means users won’t require the STABLE coin for everyday transactions, as its primary purpose lies in securing network consensus, coordinating governance decisions, and maintaining long-term ecosystem incentives.
The coin distribution strategy presents a striking equilibrium. Ten percent of the supply will fuel initial liquidity and community participation, forty percent is designated for developer grants and partnerships, and the remaining fifty percent will be equitably allocated among the team and early investors. These shares will adhere to a one-year lock-up period and a four-year vesting schedule.
Mainnet Preparations
In preparation for its mainnet transition, Stable focuses on validator participation and the integration of developer tools. Though no specific launch date has been announced, the process will advance through a phased model starting with governance activation.
Launched in October, two preliminary investment rounds have significantly accelerated the project’s momentum. However, social media scrutiny arose due to claims that large initial investments were limited to a handful of wallets. In response, the second phase imposed a limit on individual investments, resulting in over 10,000 verified wallets contributing more than 1.1 billion USD in stablecoin. The team assured that the raised funds will enhance long-term network security, bolster governance participation, and expand the USDT-based transaction infrastructure.